$ETH 2438 At this spot, the 24h amplitude is already fast at around 10 points, and the volume at 410,000 coins isn’t small either. 😐 On-chain, the few whale addresses I’m watching have added to their positions near 2400 over the past couple of days, but the funding rate is still positive—buyers haven’t backed down. To put it plainly, this is a stage where bulls and bears are basically trading stupidity with each other: spot gets smashed down to 2389 and then gets pulled back—classic wick/pin needle washout. A few big V’s are arguing like crazy in the group: one side says the $ETH ecosystem narrative has cooled and they should go to 2200; the other side says after the Cancun upgrade, L2 data has stabilized and should rebound. I feel community sentiment is more fearful, and that’s actually a position I’m relatively comfortable with. The key is still whether the low at 2389 can be held—if it breaks, that’s a different story. Don’t let yourselves get led around by a single line. $ETH right now lacks incremental capital, not a story. Do you think this move is just a wash, or a real drop?

$ETH #行情分析 #On-chain data